Eagle Asset Management Inc. Has $12.74 Million Stock Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Eagle Asset Management Inc. reduced its stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 30.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,356,779 shares of the biotechnology company’s stock after selling 580,930 shares during the quarter. Eagle Asset Management Inc.’s holdings in Iovance Biotherapeutics were worth $12,740,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. ORG Partners LLC bought a new stake in Iovance Biotherapeutics in the second quarter valued at $32,000. Quest Partners LLC boosted its stake in shares of Iovance Biotherapeutics by 1,237.7% in the 2nd quarter. Quest Partners LLC now owns 5,003 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 4,629 shares in the last quarter. EverSource Wealth Advisors LLC acquired a new stake in shares of Iovance Biotherapeutics in the 2nd quarter valued at $58,000. Daiwa Securities Group Inc. increased its position in shares of Iovance Biotherapeutics by 754.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 8,813 shares of the biotechnology company’s stock worth $71,000 after purchasing an additional 7,781 shares in the last quarter. Finally, Abacus Planning Group Inc. bought a new position in Iovance Biotherapeutics during the 2nd quarter valued at about $82,000. 77.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IOVA. HC Wainwright reaffirmed a “buy” rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a report on Wednesday, November 6th. UBS Group began coverage on Iovance Biotherapeutics in a report on Thursday, October 24th. They set a “buy” rating and a $17.00 price target for the company. StockNews.com raised Iovance Biotherapeutics to a “sell” rating in a research note on Monday, August 12th. Finally, Piper Sandler lowered Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $19.00 to $10.00 in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.33.

Insider Buying and Selling at Iovance Biotherapeutics

In related news, Director Ryan D. Maynard sold 50,000 shares of Iovance Biotherapeutics stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $10.06, for a total transaction of $503,000.00. Following the completion of the sale, the director now directly owns 7,500 shares of the company’s stock, valued at $75,450. The trade was a 86.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 12.10% of the company’s stock.

Iovance Biotherapeutics Stock Up 3.8 %

Iovance Biotherapeutics stock opened at $8.55 on Friday. The business’s 50-day simple moving average is $9.91 and its 200 day simple moving average is $9.58. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of -5.74 and a beta of 0.60. Iovance Biotherapeutics, Inc. has a 12-month low of $5.41 and a 12-month high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.03. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. The company had revenue of $58.56 million during the quarter, compared to analysts’ expectations of $53.54 million. During the same quarter in the previous year, the company earned ($0.46) EPS. As a group, sell-side analysts expect that Iovance Biotherapeutics, Inc. will post -1.25 EPS for the current year.

Iovance Biotherapeutics Company Profile

Iovance Biotherapeutics, Inc, a commercial-stage biotechnology company, develops and commercializes cell therapies using autologous tumor infiltrating lymphocyte for the treatment of metastatic melanoma and other solid tumor cancers in the United States. The company offers Amtagvi, a tumor-derived autologous T cell immunotherapy used to treat adult patients with unresectable or metastatic melanoma; and Proleukin, an interleukin-2 product for the treatment of patients with metastatic renal cell carcinoma.